POS for altcoins? | Bitcointalksearch.org

mrnuts

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Quote from: Aura on December 18, 2017, 03:21:56 PM

Lower popularity coins have a higher risk for 51% attacks then populair coins like Bitcoin. I personally believe that PoW is safer for 51% attacks than PoS as it's requires more to achieve 51% of the hash power compared to owning 51% of all circulating coins, especially for lower popularity coins. For example on coinmarketcap there at least a hundred coins that have a marketcap lower than 38 thousand, that means I can buy 51% of the circulating units for less than 1 bitcoin, if these coins would grow and I still own 51% then I'm capable of doing an 51% attack. While for a 51% attack using PoW I need to power enormous amounts of miners, probably not fitting in just one house. I think an attacker would rather buy 51% of all circulating units than powering multiple houses full with miners.

Yeah ,but then you're risking your stake... I mean if you own 51% the best way for you to profit is to support the coin, not to mess up with it... but instead for mining, if you own a mining pool with a lot of hash rate your only cost is the time redirect that hashing power over the coin, and that even if members of the pool realize what is happening...

Aura

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Quote from: staywoke081 on December 18, 2017, 03:41:02 PM

Quote from: Aura on December 18, 2017, 03:21:56 PM

Lower popularity coins have a higher risk for 51% attacks then populair coins like Bitcoin. I personally believe that PoW is safer for 51% attacks than PoS as it's requires more to achieve 51% of the hash power compared to owning 51% of all circulating coins, especially for lower popularity coins. For example on coinmarketcap there at least a hundred coins that have a marketcap lower than 38 thousand, that means I can buy 51% of the circulating units for less than 1 bitcoin, if these coins would grow and I still own 51% then I'm capable of doing an 51% attack. While for a 51% attack using PoW I need to power enormous amounts of miners, probably not fitting in just one house. I think an attacker would rather buy 51% of all circulating units than powering multiple houses full with miners.

Yeah true but those are the lowest of the lowest coins on the rung. You can't say manipulate a hybrid coin like DeepOnion that easily or a coin like MUE that easily. Sure the smallest caps are easy to manipulate but if you have a decent cap you don't really need to worry about the 51% attack.

True, that's why both systems are immune for 51% attacks. However I still believe an attacker would rather own 51% of the circulating supply than having to power insane amounts of miners but that's just my personal opinion, as an attacker doesn't have to be one person it could also be a bank for example. A bank could easily miss 8 million if it would be necessary to keep them in business.

staywoke081

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Santa Coin

Quote from: Aura on December 18, 2017, 03:21:56 PM

Lower popularity coins have a higher risk for 51% attacks then populair coins like Bitcoin. I personally believe that PoW is safer for 51% attacks than PoS as it's requires more to achieve 51% of the hash power compared to owning 51% of all circulating coins, especially for lower popularity coins. For example on coinmarketcap there at least a hundred coins that have a marketcap lower than 38 thousand, that means I can buy 51% of the circulating units for less than 1 bitcoin, if these coins would grow and I still own 51% then I'm capable of doing an 51% attack. While for a 51% attack using PoW I need to power enormous amounts of miners, probably not fitting in just one house. I think an attacker would rather buy 51% of all circulating units than powering multiple houses full with miners.

Yeah true but those are the lowest of the lowest coins on the rung. You can't say manipulate a hybrid coin like DeepOnion that easily or a coin like MUE that easily. Sure the smallest caps are easy to manipulate but if you have a decent cap you don't really need to worry about the 51% attack.

Aura

sr. member

Activity: 518

Merit: 268

Lower popularity coins have a higher risk for 51% attacks then populair coins like Bitcoin. I personally believe that PoW is safer for 51% attacks than PoS as it's requires more to achieve 51% of the hash power compared to owning 51% of all circulating coins, especially for lower popularity coins. For example on coinmarketcap there at least a hundred coins that have a marketcap lower than 38 thousand, that means I can buy 51% of the circulating units for less than 1 bitcoin, if these coins would grow and I still own 51% then I'm capable of doing an 51% attack. While for a 51% attack using PoW I need to power enormous amounts of miners, probably not fitting in just one house. I think an attacker would rather buy 51% of all circulating units than powering multiple houses full with miners.

mrnuts

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Well, one could argue that messing with POW coins it's easier since there are already established mine pools that could easyly achieve 51%... as a matter of fact it has already happened, so from that point of view i'd argue that the economic incentives to not mess up with a coin could be higher in POS...

Huh

Topic: POS for altcoins? (Read 97 times)